Asked by Baylee Grace on Jul 29, 2024
Verified
Mr.Green agrees to an offer to drive Ms.White to the airport for $20,but "only if I feel like it".Mr.Green has failed to give sufficient consideration to create a contract with Ms.White.
Consideration
Something of value exchanged between parties in a contract, which is necessary for the contract to be legally binding.
Sufficient Consideration
The value that is deemed adequate by the parties involved and law as part of an agreement or contract, ensuring it is binding and enforceable.
- Differentiate between valid and invalid consideration.
Verified Answer
JP
Jashan PreetJul 29, 2024
Final Answer :
True
Explanation :
If the promisee's promise is illusory because it really does not bind the promisee to do or refrain from doing anything,such a promise cannot serve as valid consideration.
Learning Objectives
- Differentiate between valid and invalid consideration.
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